USD/CHF Wave analysis and forecast for 23.05 – 30.05: The pair is likely to rise.
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Estimated pivot point is at the level of 0.8895.
Our opinion: Buy the pair above the level of 0.8895 with the target of 0.91 – 0.92.
Alternative scenario: Breakout of the level of 0.8895 will allow the pair to continue decline within correction to the level of 0.88.
Analysis: Presumably, the formation of the fifth wave, which took a shape of a diagonal triangle within the daily timeframe, has completed. Locally, it is not excluded that the price has formed the first and the second waves. If this assumption is correct, it makes sense to expect that growth will continue up to 0.91 – 092. In case of breakdown of the level of 0.8895, the pair will continue downward correction in the second wave up to the level of 0.88.
